Algert Global LLC Invests $425,000 in EnLink Midstream, LLC (NYSE:ENLC)

Algert Global LLC bought a new stake in shares of EnLink Midstream, LLC (NYSE:ENLC) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 30,864 shares of the pipeline company’s stock, valued at approximately $425,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC acquired a new stake in shares of EnLink Midstream during the second quarter valued at about $28,000. Sunbelt Securities Inc. grew its stake in EnLink Midstream by 24.2% during the 1st quarter. Sunbelt Securities Inc. now owns 6,885 shares of the pipeline company’s stock valued at $94,000 after purchasing an additional 1,343 shares in the last quarter. SG Americas Securities LLC purchased a new stake in EnLink Midstream during the 1st quarter worth approximately $105,000. First Horizon Advisors Inc. raised its position in shares of EnLink Midstream by 12.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock valued at $106,000 after purchasing an additional 853 shares in the last quarter. Finally, Callahan Advisors LLC boosted its stake in shares of EnLink Midstream by 8.7% during the 2nd quarter. Callahan Advisors LLC now owns 12,500 shares of the pipeline company’s stock valued at $172,000 after buying an additional 1,000 shares during the last quarter. 45.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on ENLC shares. Stifel Nicolaus cut shares of EnLink Midstream from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a report on Friday, August 30th. Tudor, Pickering, Holt & Co. raised shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Friday, August 16th. StockNews.com raised EnLink Midstream from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. increased their target price on EnLink Midstream from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Finally, Tudor Pickering upgraded EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th. Seven analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.44.

EnLink Midstream Trading Up 0.4 %

Shares of NYSE ENLC opened at $14.75 on Tuesday. The company has a market cap of $6.66 billion, a price-to-earnings ratio of 42.14 and a beta of 2.40. The stock’s 50 day simple moving average is $13.79 and its 200 day simple moving average is $13.58. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.72. EnLink Midstream, LLC has a 12-month low of $11.53 and a 12-month high of $14.80.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.06). The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.90 billion. EnLink Midstream had a net margin of 2.15% and a return on equity of 8.22%. The business’s revenue was up 1.4% compared to the same quarter last year. During the same period last year, the firm posted $0.12 EPS. Equities research analysts expect that EnLink Midstream, LLC will post 0.59 EPS for the current year.

EnLink Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd were issued a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend was Friday, August 2nd. This is a boost from EnLink Midstream’s previous quarterly dividend of $0.13. EnLink Midstream’s payout ratio is 151.43%.

EnLink Midstream Company Profile

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.